Coldwell Banker Commercial is offering an Inclusive Ownership Program that will provide qualified minorities, women, LGBTQ+ and veterans across the U.S. with as much as $100,000 each to start their own CBC franchises. “We’ve never offered anything like this before, but we recognize, being one of the oldest brands, that somebody has to do something to make a change,” said Coldwell Banker Commercial franchise development director Adria Hartwig. “We also get some young, really motivated, fantastic owners through the process. I want to get in front of women and minority groups that want to own their own brokerage but just haven’t seen the path to be able to do it.”

CBC rolled out the program to prospective commercial agents 12 months ago. In that time, Hartwig herself brought onboard seven female and minority program participants. A catalyst behind the program was the arrival of M. Ryan Gorman, a veteran of Coldwell Banker and its parent firm, Realogy. He became CEO in January 2020 of Coldwell Banker Real Estate, which includes the Coldwell Banker residential brand and Coldwell Banker Commercial. Gorman long has been an advocate for inclusion across the real estate industry.

“The Coldwell Banker and Coldwell Banker Commercial brands were the first brands within Realogy to bring the Inclusive Ownership Program to prospective franchisees,” said CBC vice president Dan Spiegel. “Leaders in the commercial real estate industry understand the need to embrace diversity across many services, including brokerage, property management, valuation and lending. The need is not unique to the residential or the commercial sector.” Last year, retail leasing accounted for 32 percent of CBC’s leasing activity and 17 percent of its sales volume. CBC has more than 280 offices across the U.S. “Our affiliated companies should reflect the diversity of tenants, buyers, owners and investors that we serve,” he said.

Qualified candidates include women, Black people, Latinx people, Asian Americans, Pacific Islanders, members of the LGBTQ community and veterans. While CBC executives interview candidates, the candidates will have the opportunity to vet CBC, as well, learning about the brand, how it helps agents and franchises grow and the tools available to them. According to Hartwig, the program is a fit for any broker working in an office and ready to grow their own team and for any independent brokerage office that wants the benefits of aligning with a major brand. Program participants will sign CBC’s standard, 10-year franchise agreement and will have majority ownership in their own CBC franchises.

Benefits include as much as $100,000 in financial incentives, a waiver of the initial franchise fee, royalty fee rebates, a year-long mentorship program and discounted tuition to Coldwell Banker Brand Leadership Development Experiences.

According to Hartwig: “It really is not too good to be true. It is a cognitive decision by our brand to make a substantial change in the commercial real estate industry.”